2:55 pm, May 12, 2023
Nissan’s chief operating officer will be stepping down from the manufacturer’s board next month and won’t be reappointed, it was revealed today.
Ashwani Gupta – who joined in 2019 – had been tipped as the next CEO, but today’s shock announcement means the future is uncertain for the senior executive after his term expires on June 27.
Nissan said it was uncertain at the moment whether or not Gupta – a former Renault executive – would remain as chief operating officer, according to Reuters.
His appointment was part of an attempt by Nissan to end the unrest caused by former boss Carlos Ghosn’s arrest, sacking and escape from Japan to avoid trial on various charges including understating his income.
Gupta’s backers had sought to have the board promote him to joint CEO in 2020 but it never happened.
Today’s board shake-up – which is subject to approval by shareholders – also saw IBM veteran Brenda Harvey being nominated as an outside director, with the total board make-up set to rise by two members to 12 as well.
Outside directors Jenifer Rogers and Masakazu Toyoda are poised to quit the board too, but CEO Makoto Uchida was proposed to be reappointed as a director.
In January, Nissan and Renault equalised their mutual shareholdings at 15 per cent and agreed on greater co-operation over EVs to try to patch up their strained alliance.
It saw the French brand transfer 28.4 per cent of the Nissan shares that it owned into a French trust so that its stake was the same 15 per cent that Nissan had in Renault.
